Business Development and Cybersecurity

Cybersecurity technology is an essential element of business development. Business leaders should apply these systems with care and be proactive, as they are susceptible to being targeted by cyberattacks. Business development involves identifying new opportunities, developing and maintaining relationships with customers, creating strategic partnerships, and creating strategies to increase profits. It impacts almost every department in a business from HR to marketing.

In order to answer the research question, “How does a company’s adopting cybersecurity technologies affect its performance?” we examined the impact of various technological, organizational and environmental elements on an organization’s intent to adopt these technologies. We used the TOE framework to analyze the impact of these elements on organizations’ willingness and ability to adopt cybersecurity technologies.

The TOE framework consists of four elements: (1) perceived utility, (2) perceived ease-of-use and (3) the ability to observe. These three variables affected the companies’ intentions to adopt cybersecurity techniques and their performance. In addition, competition pressure and vendor support have also had a positive effect on the willingness of companies to adopt these technology.

Cyberattacks are more frequent and could cause grave damage to a company’s reputation as well as its financial and operational capabilities. The most recent cybersecurity technologies are capable of helping businesses avoid the aforementioned scratches and improve financial performance. It’s time to make a shift in perspective, moving from viewing cybersecurity as a costly security expense to accepting it as a crucial business function that drives growth.

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